ZAGG closed an $85 million revolving credit facility with KeyBank as administrative agent, swing line lender and issuing lender on the transaction.

According to a related 8-K filing, KeyBanc Capital Markets acted as sole lead arranger and sole book runner.

The $85 million secured revolving credit facility is not subject to borrowing base limitations. At the company’s option, up to $8.5 million of the revolver may be made available as swing line loans and up to $40 million may be made available for issuance of letters of credit.

The revolving loan initially bears interest at an annual rate of the base rate plus a margin of 0.25% to 1.375% based on the prior quarter-end Leverage Ratio or the Eurodollar rate plus a margin of 1.25% to 2.375% based on the prior quarter-end leverage ratio.

The revolver will mature on April 11, 2023, subject to early termination in the event of default.

The payment obligations of ZAGG under the credit agreement are guaranteed by the company’s U.S. subsidiaries and are secured by substantially all of its existing and future personal property.

ZAGG produces mobile accessories and technologies, including screen protection, power management solutions, mobile keyboards, social tech and personal audio.